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Why Greenland Isn’t Chasing the Dream of Becoming a Mining Superpower

 Greenland's Mining Perspective

- Greenland is not interested in becoming a major mining superpower.

- The minister for business and mineral resources wants only 5 to 10 active mines at a time.

- High environmental, social, and governance (ESG) standards are prioritized.

- Concerns exist about the environmental impact of mining and economic uncertainty.

U. S. Interest in Greenland

- Early in Trump's presidency, he expressed interest in acquiring Greenland for security and resources.

- Trump cited the need for Greenland to counter Russia and access rare earth minerals.

- Denmark rejected the idea, stating Greenland was not for sale.

- Some political figures in Greenland suggested independence instead of U. S. or Danish control.

Global Mineral Demand

- International powers are interested in Greenland for its mineral potential.

- Demand for critical minerals (lithium, cobalt, copper) is expected to grow significantly by 2030.

- China currently dominates the global mineral mining market.

Greenland's Mineral Reserves

- Greenland has vast reserves including rare earth metals, coal, graphite, uranium, copper, lead, and zinc.

- A survey revealed that 25 of 34 critical raw materials recognized by the European Commission are found in Greenland.

- Climate change is making inaccessible mineral reserves easier to retrieve.

Concerns About Mining

- Limited mining activity due to harsh conditions and environmental opposition.

- Significant funding and local support are needed to develop the mining industry.

- A past paper warned against unrealistic expectations for Greenland's mineral potential.

- Economic return from mining is uncertain, and local communities question the benefits.

Current Mining Stance

- Greenland currently has some mining operations but does not wish to become a major player in mining.

- The minister reassured the importance of maintaining high environmental and community standards.

- If environmental standards are undermined, public support for mining could wane, harming future projects.

https://oilprice.com/Metals/Commodities/Why-Greenland-Isnt-Chasing-the-Dream-of-Becoming-a-Mining-Superpower.html

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